Gogold Resources Stock Price, News & Analysis

GoGold Resources (TSX: GGD, OTCQX: GLGDF) reported strong financial results for the year ending September 30, 2021, achieving record revenue of $53.2 million from the sale of 2.2 million silver equivalent ounces. The company generated $24.8 million in free cash flow from its Parral project, facilitating a 98% increase in market capitalization. Key highlights include an adjusted net income of $11.0 million, and a significant increase in drilling at Los Ricos, leading to a resource estimate of 87.8 million silver equivalent ounces.

GoGold Resources Inc. announced its Initial Mineral Resource Estimate for the Los Ricos North Project in Mexico, indicating an Indicated Mineral Resource of 87.8 million ounces silver equivalent (AgEq) grading 122 g/t AgEq across 22.3 million tonnes. The Inferred Mineral Resource stands at 73.2 million ounces AgEq grading 111 g/t AgEq from 20.5 million tonnes. The company plans an additional 100,000 metres of drilling in 2022 to expand resources. The effective date for these estimates is December 1, 2021.

GoGold Resources has announced positive initial metallurgical results for its Los Ricos North deposits including Casados, El Favor, La Trini, and El Orito. Conducted by SGS Lakefield, tests showed strong cyanide leachability with extraction rates of 86-96% for Casados, El Favor, and La Trini. The El Orito deposit demonstrated recovery of 86% for precious metals in flotation tests. The company plans further testing to optimize these processes as it approaches the release of an initial Mineral Resource Estimate.

GoGold Resources announced significant drill results from its Los Ricos North project, including hole LRGF-21-095, which intersected 1,523 g/t AgEq over 0.7m within 13.3m of 139 g/t AgEq. The results support the ongoing expansion of the El Favor East target as the company approaches a key data cut-off for its initial mineral resource estimate, expected soon. Continuing drilling efforts budgeted for 100,000 meters in 2022 aim to explore further potential areas. The Los Ricos South Project previously indicated a Measured & Indicated Resource of 63.7 million ounces AgEq.

GoGold Resources Inc. (TSX: GGD, OTCQX: GLGDF) has announced the drilling results from its Mololoa and El Nayar targets within Los Ricos North. Key highlights include Hole LRGM-21-030 intersecting 1,975 g/t AgEq over 0.6m, and Hole LRGNY-21-002 yielding 1,976 g/t AgEq over 0.7m. The company is progressing on an initial mineral resource estimate following 100,000 metres of drilling and intends to drill an additional 100,000 metres through 2022. These results enhance the exploration potential and validate ongoing drilling success in the region.

GoGold Resources Inc. (OTCQX: GLGDF) announced successful drilling results from the El Favor East zone, intersecting 0.9m of 1,494 g/t AgEq, within 20m of 150 g/t AgEq. The new drilling extends the zone by 150 meters and is part of a broader exploration strategy involving an ongoing IP survey to identify mineralization targets. This exploration effort may significantly impact the initial resource estimate at Los Ricos North. Three major veins converge in a specified area, potentially enabling bulk mining. Comprehensive QA/QC protocols ensure data integrity.

GoGold Resources has reported significant developments at the El Favor East zone, extending its mineralized area by over 450 meters. Drill hole LRGF-21-076 yielded an impressive 3,034 g/t silver equivalent over 0.8 meters, while LRGF-21-075 showed 24.2 meters averaging 139 g/t AgEq. The exploration continues 900 meters east of the original discovery, indicating strong mineralization that may influence the upcoming initial resource estimate for Los Ricos North. GoGold plans an extensive drilling program, targeting over 100,000 meters in 2021.

GoGold Resources announced production results for the fiscal year ending September 30, 2021, achieving 2.27 million silver equivalent ounces and generating over $22 million in free cash flow. Quarterly production reached 526,044 AgEq ounces, with a notable increase in copper production to 138 tonnes. The year maintained production stability similar to the prior year, highlighting operational efficiency. GoGold plans to reinvest free cash flow into the Los Ricos project, aiming for significant value growth for shareholders.

GoGold Resources Inc. has announced significant drilling results from the Mololoa area within Los Ricos North, showcasing high-grade silver and gold intersections. Notably, drill hole LRGM-21-006 yielded 1,956 g/t AgEq over 1.0m, with a 6.1m total intercept at 526 g/t AgEq. The drilling confirms the potential for adding valuable resources to the upcoming initial assessment for Los Ricos North. CEO Brad Langille highlighted the presence of vein structures and intends to explore beyond previously mined areas for further mineralization.